Greystone Housing Impact Investors LP Lists Vantage at Hutto for Sale
Greystone Housing Impact Investors LP Lists Vantage at Hutto
OMAHA, Neb. — Greystone Housing Impact Investors LP (NYSE: GHI) has made a significant announcement regarding its 288-unit multifamily property, Vantage at Hutto. This property is now publicly listed for sale with Institutional Property Advisors Texas, facilitated by the managing member of the property-owning entity.
Investment Details of Vantage at Hutto
The Partnership has a notable non-controlling investment in Vantage at Hutto, which commenced in November 2020. Greystone Housing Impact Investors LP has played a crucial role, contributing an impressive total of $11.8 million in equity during the construction and stabilization phases of the property. The construction was completed recently, in December 2023, and as of now, the property is demonstrating solid performance with a physical occupancy rate of 89% as of a recent assessment.
Future Sale Expectations
Following the historical trends of Vantage property sales, the Partnership anticipates that after the completion of the listing process and upon executing a sale contract, the closing of this transaction should ideally take place in the first quarter of the coming year. However, current fluctuations in the market and unpredictable conditions may affect this timeline and possibly influence the final selling price.
Operational Agreements and Proceeds
The management of the listing and sales process for Vantage at Hutto is governed by the Operating Agreement of the property-owning entity. This arrangement ensures that the Partnership is entitled to receive specific net proceeds upon the successful sale of the property, aligning with their financial objectives.
About Greystone Housing Impact Investors LP
Founded in 1998, Greystone Housing Impact Investors LP operates under the Delaware Revised Uniform Limited Partnership Act, primarily focused on acquiring and managing mortgage revenue bonds intended for financing affordable multifamily, senior, and student housing projects. The Partnership actively pursues growth by acquiring additional mortgage revenue bonds and other investment vehicles, seeking to benefit from favorable financing arrangements available in the market.
Strategic Investment Growth
Greystone is not just about holding investments; it's about making strategic moves in the market to enhance returns. The Partnership believes that the interest accrued from mortgage revenue bonds could be exempt from federal income tax, representing a significant advantage. Their strategy emphasizes investing in new bonds while leveraging opportunities that the market presents, including utilizing interest rate risk management tools.
Market Position and Future Projections
In light of ongoing market conditions, Greystone Housing Impact Investors LP remains optimistic about the potential for future investments in mortgage revenue bonds. The company's approach includes careful analysis and response to prevailing economic conditions to ensure that the portfolio remains healthy and performs well in various market climates.
Investor Contacts
For those interested in learning more about Greystone's initiatives or specific investment opportunities like Vantage at Hutto, the Partnership invites inquiries directed to their investor relations.
Contact Information
Investor Contact:
Andy Grier,
Senior Vice President,
402-952-1235
Media Contact:
Karen Marotta,
Greystone,
212-896-9149,
Email: Karen.Marotta@greyco.com
Frequently Asked Questions
What is Vantage at Hutto?
Vantage at Hutto is a multifamily property that consists of 288 units, focusing on market rate housing.
When was the property constructed?
The construction of Vantage at Hutto was completed in December 2023.
Who is managing the listing of the property?
The listing is managed by Institutional Property Advisors Texas, under the guidance of the property-owning entity’s managing member.
What is the current occupancy rate?
The property has reported a physical occupancy rate of 89% as of the latest update.
How can I contact Greystone Housing Impact Investors LP?
Interested parties can reach out to Greystone through their investor contact Andy Grier at 402-952-1235, or media inquiries can be directed to Karen Marotta at 212-896-9149.
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